These business deals increased hopes that more corporate takeovers could happen, as businesses begin to feel more confident in the economy’s recovery potential. A leading economist from Avalon Partners, a brokerage house, alluded too this when he stated that people will only expand their businesses as much as they believe in the potentiality of the future.
Concerns about Japan's damaged nuclear reactors also began to ease up. The NRC announced that the state of affairs at Fukushima Dai-ichi seems more stable.
The Dow average rose one hundred eighty six points to 12,044 by the middle of the days trading.
The fighting in Libya and the earthquake in Japan has caused plenty of big fluctuations in the Dow Jones Industrial Average starting back in late February.
The S&P 500 gained twenty points on the day to 1,299. It is now only five points under March eleventh’s closing level, the day Japan was struck with an earthquake. The NASDAQ rose fifty-one points to 2,694.
Energy stocks took the lead in the market after increased oil prices rose back above one hundred and three dollars a barrel. Schlumberger Ltd., which assists companies in drilling for oil and gas, rose to eighty-nine dollars and fifteen cents. ConocoPhillips increased to seventy-seven dollars and sixty- six cents.
Tiffany & Co. increased to sixty-dollars and thirty-seven cents once they reported much higher than they expected earnings.
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